Diana Announces Time Charter Contract for m/v Thetis with Hudson


  • M/v Thetis previously chartered at US$8,350 per day from a contract with Ausca Shipping Limited.
  • It will now be chartering at US$10,650 per day for next 14 -17 months from 16 November 2018.
  • The new developments are set to generate a revenue of US$4.47 million gross.
  • Company’s fleet totals to 48 dry bulk vessels post contract completion.

In a recent development, Diana Shipping announced that they have signed a time charter contract with Hudson Shipping Lines Incorporated. The global shipping company, specialising in dry bulk vessels ownership have signed the charter for one of its Panamax dry bulk vessels, the m/v Thetis, says a press release on 15th November 2018.

What is in the contract?

  1. The gross charter rate is US$10,650 per day, minus a 3.75% commission paid to third parties, for a period of minimum fourteen (14) months to maximum seventeen (17) months.
  2. The charter is expected to commence on 16th November 2018.
  3. The m/v Thetis was chartered, as previously announced, to Ausca Shipping Limited, Hong Kong, at a gross charter rate of US$8,350 per day, minus a 5% commission paid to third parties.
  4. The “Thetis” is a 73,583 dwt Panamax dry bulk vessel built in 2004.

How does this affect the company?

This employment is anticipated to generate approximately US$4.47 million of gross revenue for the minimum scheduled period of the time charter.

Upon completion of the previously announced sales of two Panamax dry bulk vessels, m/v Triton and m/v Alcyon, Diana Shipping Inc.’s fleet will consist of 48 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax, and 20 Panamax). As of today, the combined carrying capacity of the Company’s fleet, including m/v Triton and m/v Alcyon, is approximately 5.8 million dwt with a weighted average age of 9.23 years.

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Source: Diana Shipping Inc.


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